National Commerce prices $32.02 million initial stock sale at $19.50

Keefe, Bruyette & Woods assists; deal funds growth and working capital

By Devika Patel

Knoxville, Tenn., March 18 – National Commerce Corp. said it priced its $32.02 million initial public offering of stock with a $4.97 million greenshoe. The deal was announced Jan. 5 and will be conducted alongside a $1.13 million secondary sale.

The company will sell 1,642,000 common shares at $19.50 per share. The shareholder will sell 58,000 shares at the same price in the secondary offering.

Keefe, Bruyette & Woods, Inc. is the bookrunner.

Proceeds will be used for growth, working capital and other general corporate purposes.

The bank holding company is based in Birmingham, Ala. It intends to list its common stock on the Nasdaq Global Select Market under the symbol “NCOM.”

Issuer:	National Commerce Corp.
Issue:	Common stock
Amount:	$32,019,000
Greenshoe:	$4,972,500
Shares:	1,642,000
Price:	$19.50
Warrants:	No
Bookrunner:	Keefe, Bruyette & Woods, Inc.
Co-managers:	Raymond James & Associates, Inc., Sterne, Agee & Leach, Inc. and FIG Partners, LLC
Announcement date:	Jan. 5
Pricing date:	March 18
Stock exchange:	Nasdaq: NCOM

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